Happy Valentine’s week! Josh & Austin are here with a special episode talking about things they love on this Valentine’s day. They share some statistics on what Americans spend on Valentine’s day as well as some things they love about the financial world. Listen now to this lovely episode.
Main Talking Points
[2:18] – Valentine’s Day Stats
[10:25] – Some Things Josh & Austin Love
[11:43] – Dad Joke of the Week
[13:27] – More Things Josh & Austin Love
Links & Resources
Invest With Us – The Invested Dads
Free Guide: 8 Timeless Principles of Investing
Social Media
Full Transcript
Intro:
Welcome to the Invested Dads Podcast, simplifying financial topics so that you can take action and make your financial situation better. Helping you to understand the current world of financial planning and investments. Here are your hosts, Josh Robb and Austin Wilson.
Austin Wilson:
All right. Hey, hey, hey, welcome back to the Invested Dads Podcast, a podcast where we take you on a journey to better your financial future. Today, Josh, you can feel it, love is in the air.
Josh Robb:
That’s right, today we’re going to be talking about Valentine’s Day, and it’s a chance to remind all single people how much money they get to save throughout the year.
Austin Wilson:
I mean, seriously, when we start going through a couple of numbers that we have in here. You’re going to be thankful you’re single.
Josh Robb:
Yes, that’s right. I thought, you know, it’s February the shortest month of the year.
Austin Wilson:
True.
Josh Robb:
The love month.
Austin Wilson:
Is that why … I mean, it’s the shortest month of the year … Who picked-
Josh Robb:
I think it’s breaking up the slowness of the winter with something exciting to look forward to.
Austin Wilson:
So with all of the astronomy, rotation of the Earth, really smart people much smarter than me figured all of this out long time ago, who was like, “Wait, we got a couple … We’re a little couple-extra too many days. We need to … February, you’re going to get shorted.”
Josh Robb:
It’s crazy because you have some months with 31 days, some months with 30. You could take a couple of those 31 days, add it to February and make it a 30.
Austin Wilson:
Nope, 28.
Josh Robb:
Nope, can’t do that. Got to do it.
Austin Wilson:
28 days.
Josh Robb:
You know, obviously they were rotating around seasons more than anything and trying to fit in those calendar months within the seasons. And so spring shows up, you don’t want to overlap.
Austin Wilson:
I mean, it’s such an American … I don’t know if it’s Americans, it’s not Americans that developed a 12-month calendar-
Josh Robb:
No, that was way back.
Austin Wilson:
… but we do everything in twelves, feet, all of those things. Like they don’t make sense.
Josh Robb:
That’s horrible, don’t get me on that.
Austin Wilson:
Why didn’t we do tens?
Josh Robb:
I would go metric. I would go metric in a heartbeat.
Austin Wilson:
I don’t want to have to relearn it, but metric makes a million times more sense.
Josh Robb:
It’s a decimal system-
Austin Wilson:
I know.
Josh Robb:
… in groups of … Ah, that’s so nice.
Austin Wilson:
We use it for our money. Why don’t we use it for everything else?
Josh Robb:
So nice.
Austin Wilson:
Anyway, so yes, Valentine’s Day.
Josh Robb:
One thing I love one, the decimal system.
[2:18] – Valentine’s Day Stats
Austin Wilson:
One thing you love, we’re not there yet. We’re not there yet. So let’s talk about some statistics about Valentine’s Day. So Balancing. Everything had an article, and we’ll link in the show notes, but they gave us a couple statistics to think about. So, you’re ready?
Josh Robb:
I’m ready.
Austin Wilson:
This is some big numbers. Last year, so I don’t know if this would have been ’20. This was probably 2019, probably not 2020.
Josh Robb:
This was 2020.
Austin Wilson:
Okay, 2020. Last year, so 2020, 27.4 billion with a B was spent for Valentine’s Day. 5.8 of that billion was on jewelry. That is some serious coin.
Josh Robb:
That is a lot of necklaces.
Austin Wilson:
That’s a lot of neckli?
Josh Robb:
How do you pluralize that?
Austin Wilson:
Necklaces? I don’t know. So, anyway, $27.4 billion, almost 6 billion on jewelry alone. That’s a lot of money. And so how does that go down on a per person basis?
Josh Robb:
Yeah, so the average spent, so just that?
Austin Wilson:
Just straight average.
Josh Robb:
Average is $196.31 was spent.
Austin Wilson:
Okay.
Josh Robb:
All right, so then when break it down though, men in 2020-
Austin Wilson:
This gets me, this gets me.
Josh Robb:
… on average spent $291.15. Now if you know anything about averages-
Austin Wilson:
Yeah.
Josh Robb:
… if that number is high, guess what? The other side’s got to be low to average the middle.
Austin Wilson:
It has to be.
Josh Robb:
All right, so women spent $106.22.
Austin Wilson:
So men love their wives more than wives love their husbands on a financial basis.
Josh Robb:
It’s hard to say.
Austin Wilson:
I’m not going to say that.
Josh Robb:
It’s hard to say. I’m going to say that-
Austin Wilson:
The numbers are very different.
Josh Robb:
… the way each other shows love is different. One may be more monetary than the other.
Austin Wilson:
I mean, almost 300 to 1, essentially. 300 to 100, three X almost. That is a pretty big difference. And Jenna, babe, if you’re listening, sorry. I don’t think I probably spent even 106, but I love you anyway.
Josh Robb:
As we were looking at this I was reading a couple of other articles, and I think it was CNBC or CBS. Somebody had an article, and they were talking about the expectation versus the spending. And there was kind of this level of what they expected to be spent and how they would be upset. But the article noted that if they spent too much, it was also kind of a-
Austin Wilson:
Bad thing.
Josh Robb:
Yeah, like they would be-
Austin Wilson:
Like a sweet spot?
Josh Robb:
… offended by it. Yeah, there’s this kind of this happy … Like if you threw down a thousand bucks for Valentine’s Day maybe-
Austin Wilson:
It didn’t get you extra points.
Josh Robb:
… it’s just kind of like, what did you do that I don’t know about that you’re really trying to make up for? So it was just interesting. But the expectation actually was a little higher than the average.
Austin Wilson:
Really?
Josh Robb:
And so, people are falling just short of what the expectation is, apparently.
Austin Wilson:
We’re an underwhelming people in general.
Josh Robb:
The other thing that is interested … And that’s the most, in these surveys that they did, the most likely person you’re spending Valentine’s money is a significant other.
Austin Wilson:
True.
Josh Robb:
Then it’s … Well, who else is out there?
Austin Wilson:
That’s all I can think of.
Josh Robb:
Is the secret boyfriend, girlfriend? No. It’s family. So parents, kids, those types of things.
Austin Wilson:
You get your parents Valentines?
Josh Robb:
I’m just telling you. So they surveyed, right? So here’s the thing-
Austin Wilson:
Sorry, Mom and Dad.
Josh Robb:
…the number three one, or one of the other ones that made the list, statistically, would be spending Valentine’s money for your kid’s school Valentine’s stuff. So if you think to that, they got to buy those little things that they put in everybody’s boxes. So that adds up. And that’s also why, when you think about it, there’s other spending besides just your significant other. Now we did, in that same blog article, 27% of the people that surveyed said they were planning on buying a gift for their pet.
Austin Wilson:
For Valentine’s Day?
Josh Robb:
For Valentine’s Day.
Austin Wilson:
So I have two dogs, I can honestly say I have given them Christmas gifts over the years. Mostly before we had kids, those were our kids. But now that doesn’t even happen, so.
Josh Robb:
We have a dog, and this is the first year he was with us for Christmas. He got a gift, it was a distraction gift so that he could chew on a bone while we were doing-
Austin Wilson:
Doing actual gifts?
Josh Robb:
… our Christmas stuff, right? So you get something out of it. But I don’t think we’ve ever gotten anything for Valentine’s Day for our pet. But let’s say, maybe you are a single person and you want to participate, maybe that’s your special something that you want to do.
Austin Wilson:
Hey, I mean, whatever floats your boat, people. Y’all enjoy yourself. Another interesting statistic that I found was in 2019, 224 million roses were sold. That’s a lot of roses.
Josh Robb:
That’s a lot of roses.
Austin Wilson:
That’s a lot of flowers. I’m just trying to visualize like how many rooms would 224 million roses take up. Like gyms, many gymnasiums. That’s a lot of flowers.
Josh Robb:
That’s a lot of thorns.
Austin Wilson:
Imagine if you’re allergic to flowers, you’d be going crazy.
Josh Robb:
Oh, man. That’d be bad.
Austin Wilson:
So a dozen roses in 2019 cost an average of $97.22.
Josh Robb:
That seems like a lot of money for 12 flowers.
Austin Wilson:
Yeah, I get mine-
Josh Robb:
I’m going to be honest with you, I don’t think I would pay $100 for roses. I’m just not going to do it.
Austin Wilson:
I’m doing this math live on my phone.
Josh Robb:
Typing it in, on his iPhone 2.
Austin Wilson:
So that is eight, whoa. 18,666,667 dozen roses-
Josh Robb:
Dozen. Okay.
Austin Wilson:
… times 97.22. So that is $1.8 billion in just roses alone.
Josh Robb:
And then you add that to the jewelry, because they got to go together. So there’s your 5.8, 1.8, that’s 7.6, man.
Austin Wilson:
If you think about it, so if spent $97 on roses, and then another $200 on jewelry, you’re done.
Josh Robb:
That’s it.
Austin Wilson:
You got your $291 and you’ve got maybe … Maybe that the sweet spot for happy wife.
Josh Robb:
That’s it. Well, if you do think about it, guys don’t get flowers, right? I don’t get flowers.
Austin Wilson:
I’ve never. When I’m in weddings, I get a flower, that’s it.
Josh Robb:
You get a little … Yeah.
Austin Wilson:
They will stain your shirt-
Josh Robb:
You get a boutonniere.
Austin Wilson:
… by the way.
Josh Robb:
But, in general, that’s not a gift that guys get, flowers. So there’s $100 bucks. So if you go from $291 to $200-
Austin Wilson:
You’ve only doubled.
Josh Robb:
… double, yeah. And then, men usually are the ones paying for the dinner.
Austin Wilson:
So does that go into there?
Josh Robb:
So that’s a chunk there. Yeah. This is the total spending, it included eating out. I don’t think it’s as far-
Austin Wilson:
Okay.
Josh Robb:
… it’s stretched out between the two, because part of the surveys … Some of the ones I was reading is when they ask, “Well, what are you planning on doing?” Eating out was the top one. Dinner out.
Austin Wilson:
I mean, you get around, you go to a nice steakhouse, you’ll drop a hundred and some bucks easy on dinner, so.
Josh Robb:
Then you’re right there.
Austin Wilson:
You’re right there.
Josh Robb:
Maybe guys actually spend less. If you take flowers-
Austin Wilson:
We just like food.
Josh Robb:
… and food out.
Austin Wilson:
Half the food’s for us anyway.
Josh Robb:
It’s a gift.
Austin Wilson:
Wow, those are some interesting … I can not say statistics this week, Josh.
Josh Robb:
It’s a hard word.
Austin Wilson:
It’s like when we were talking about GameStop’s stock. Ooh, I did it right.
Josh Robb:
Yes, you did it. GameStop stock.
Austin Wilson:
Check out that episode if you’re still watching the news and that’s still going crazy, because-
Josh Robb:
Crazy.
Austin Wilson:
… that just came out. But anyway, that is some statistics. Let’s talk about things-
Josh Robb:
One more thing, nugget.
Austin Wilson:
Oh, this is not planned.
Josh Robb:
It’s not in there, but you’re ready. 2020 Valentine’s Day, February 14. If you think about it, that was-
Austin Wilson:
Pre-COVID.
Josh Robb:
… pre-COVID, but, I mean, COVID was in the news.
Austin Wilson:
It was alive.
Josh Robb:
But it wasn’t in lockdown quite yet. That spending was up 33% from the year before.
Austin Wilson:
33% in a year?
Josh Robb:
In a year.
Austin Wilson:
Wow.
Josh Robb:
And so, I think maybe people kind of were like getting a little worried and spent some money on going out. I’m not sure, but I saw that, and they’re anticipating the spending going back down to-
Austin Wilson:
Pre-COVID levels.
Josh Robb:
… normal, yeah. Well, even below I think probably.
Austin Wilson:
Pre, wow.
Josh Robb:
But maybe there’s a lot of pent-up, I need to get something.
Austin Wilson:
That’s a lot of money.
Josh Robb:
Just something crazy.
[10:25] – Some Things Josh & Austin Love
Austin Wilson:
So, yes. All statistics aside, let’s talk about some things that Josh and I love, because-
Josh Robb:
Love.
Austin Wilson:
… love, February 14th, Valentine’s Day. This is coming out that week. What are some things we love in the finance world? What are some things we love outside the finance world? I’m going to start us off. Josh, I love automated savings-
Josh Robb:
Automated savings.
Austin Wilson:
Really automated-
Josh Robb:
Everything.
Austin Wilson:
… everything in finance when it comes to your finances, automated bill pay, automated savings, automated investments. I like the ability in 2021, and even a little bit before, to just set things up. It happens every month.
Josh Robb:
It’s so nice.
Austin Wilson:
I don’t think about it, and I never miss a payment. And I always am contributing to the things I want to contribute to, to meet my goals. That’s something that I love. Josh, what’s something you love?
Josh Robb:
You know, the one thing I love is compound interest.
Austin Wilson:
Ooh, was that your first love?
Josh Robb:
Yep, true story. At first, it wasn’t a big love, but every day it just grew more and more in love. And I just feel like I’m more loved now than I ever have been. And it just continues to grow exponentially, that love I have for compound interest.
Austin Wilson:
That is so cheesy.
Josh Robb:
Yeah, I know.
[11:43] – Dad Joke of the Week
Austin Wilson:
But really though-
Josh Robb:
I do love dad jokes.
Austin Wilson:
Yeah.
Josh Robb:
And I got one for you.
Austin Wilson:
Ooh, for Valentine’s Day?
Josh Robb:
Yes.
Austin Wilson:
Thank you.
Josh Robb:
And since we’re talking about relationships, we got our relationship. But I have a relationship with my recliner. We go way back.
Austin Wilson:
That’s funny. Okay, so Valentine’s Day story, taking y’all on a sidebar. So Valentine’s Day, this is even before Josh and I met. Valentine’s Day, 2015.
Josh Robb:
2015.
Austin Wilson:
2015, so my wife and I were dating. We went out to dinner for Valentine’s Day, and hey, back then I was probably really good. And I was probably spending above average, and making people happy back then. So we went out to dinner, and then we’re like hanging out for the evening. It was like, “Hey, let’s watch a movie or do something.” She was like, “Wait, that’s it?” And we’d been dating for like nine months or something like that. She’s like, “That’s it?” And like, “That’s all we’re going to do tonight?” She was expecting that I was going to propose on Valentine’s Day.
Josh Robb:
Oh.
Austin Wilson:
And I was like, “Babe, no, like I’m not going to propose on Valentine’s Day. That would be the most cliche thing ever. Who would’ve planned that?”
Josh Robb:
We’re not cliche.
Austin Wilson:
So then, she cried because I didn’t propose. Really wanted me to, I was going to anyway, and this was working towards it.
Austin Wilson:
Yeah, not, not- Not on Valentine’s Day. So I ended up proposing a couple of weeks later after her dad and I had lunch-
Josh Robb:
The talk.
Austin Wilson:
… and yeah, he reluctantly … No, I’m just kidding. He was very gracious when I asked for their blessing. But anyway, so that was my most memorable Valentine’s Day story was when I didn’t propose.
Josh Robb:
When you did not propose, and the expectation was maybe you should have.
[13:27] – More Things Josh & Austin Love
Austin Wilson:
Exactly. It was good. Okay, so another thing I love, I love bull markets.
Josh Robb:
Bull markets.
Austin Wilson:
So let’s just be very high level. Let’s just say that bull markets, the stock market is going up. It’s going up and it’s in a nice upward trend, we’re going to say. I like that. It’s a good feeling.
Josh Robb:
It feels good.
Austin Wilson:
When you see your accounts, things are going in the right direction. It’s a happy thing. And I love bull markets.
Josh Robb:
Who doesn’t? I mean, seriously. Along with that, and I know you and I, we both have this kind of on our list, is debt free. Right? And there’s all different levels. And you know, I’m not debt free. I have a mortgage still on my house, but when it comes to personal debt, and consumer spending debt, to be free of that is huge.
Austin Wilson:
Yeah, I totally agree. I am with you. And yeah, I had the same exact thing on my list because it’s something that I love and it’s something that anyone can get to.
Josh Robb:
It’s attainable.
Austin Wilson:
It’s a goal that if you want to make that your goal, you can work towards that. So we love that side of things. I love low mortgage rates. Right now we’re coming out of … Hopefully we’re getting towards the end of COVID, interest rates have been low for a while. Mortgage rates have gotten really low. It’s a good time to have a mortgage if you’re going to have some debt. As you know, we just talked about. A mortgage is a very affordable thing to have right now.
Josh Robb:
Yes. Yes, it is definitely. On a more personal side, role models. I love being able to not only have role models that help you with guiding you, but being able to learn and grow from them is just huge. And there’s different ones for personal, family, but from a business standpoint, there’s some pretty cool role models out there. And we’ve talked about like Warren Buffet is one where from a personal standpoint, I don’t really know him.
Austin Wilson:
Right.
Josh Robb:
But from an investment standpoint, he kind of set this standard of this buy, hold, look at the underlying values. He set some pretty good standards there, and to be able to see him while he’s still working, not just read about it in a book, but to be able to watch and observe. I think that’s pretty cool. So I do like that.
Austin Wilson:
I thought, I don’t know if this is even a thing, but when you said role models, I immediately thought of like a plastic recreation of a roll that’s meant to like say, “I want that,” in the window at the store-
Josh Robb:
A model of a roll?
Austin Wilson:
… like a roll model.
Josh Robb:
When I go to Texas Roadhouse, I would like-
Austin Wilson:
One of those. Well, in Japan, there’s like fake food, on a plate glued to it. And you say, that’s what you want.
Josh Robb:
They just it carry out, like …
Austin Wilson:
No, they’re in displays and stuff. Or pictures of fake … It’s so much more visual. It’s very interesting.
Josh Robb:
Very visual.
Austin Wilson:
Another thing I love is my warm home. I love a warm home. I feel like we finally got a winter. It’s February now.
Josh Robb:
It snowed outside.
Austin Wilson:
We finally got winter, snow on the ground, and it’s cold as crap. And having a warm home is something that is definitely … It’s good to love.
Josh Robb:
Yes, and do realize if your furnace ever goes out, how cold it can get and how fast it can get cold.
Austin Wilson:
So we have a Nest thermostat in our house, and we got a few … We don’t even have air conditioning. It’s an old house, but we have a Nest because there was like a double rebate where like the gas company gave us like $75 rebate. And the electric company gave us like a $75 rebate, both. And so it was $9 or something like that.
So anyway, we have a Nest thermostat, it’s great. So it’s like, “Hey, do you want to try this money saving method thing?” I’m like, “Cool. Let’s give it a shot.” Well, pretty much what it does is every night-
Josh Robb:
Freeze you out.
Austin Wilson:
… every night it drops a degree until you get mad at it and tell it you’re cold.
Josh Robb:
Here’s your limit.
Austin Wilson:
So there were multiple nights where my wife’s like, “My toes are frozen. Like I can’t do this.”
Josh Robb:
It’s so cold.
Austin Wilson:
And I didn’t realize that it had gotten down to where it was, but it was like 63 degrees at night.
Josh Robb:
Oh, man. That’s cold.
Austin Wilson:
We usually keep it at like 65, which is cool, but we have lots of blankets, it’s fine. 63 is too cold.
Josh Robb:
Too cold.
Austin Wilson:
So anyway, that’s my Nest sidebar.
Josh Robb:
That’s hilarious.
Austin Wilson:
Lots of sidebars this week. Josh, what’s something else you love?
Josh Robb:
I love being able to get paid for doing what I love. And so, having a job like this and helping people is just so satisfying. So that’s the one thing I love is having that opportunity.
Austin Wilson:
I love that you love that, because we work together.
Josh Robb:
Yes.
Austin Wilson:
I love a full belly and it’s growing. I’ve been eating a lot lately. I feel like this winter has not been great for me, but-
Josh Robb:
Insulation. That’s all it is.
Austin Wilson:
It is, that’s what I’m going with. Keep my house cold so I can keep my belly full.
Josh Robb:
That’s right.
Austin Wilson:
But, we’re obviously very, very blessed here, especially in the United States, with an abundance of food and resources. And I love having a full belly, and I love to eat.
Josh Robb:
Speaking of eating, I love donuts.
Austin Wilson:
Ooh, yes, you do.
Josh Robb:
It’s not a stretch in any way, shape or form of my love and passion for donuts. So that made the list for sure, for me.
Austin Wilson:
I love our listeners. There’s a year and a month or so under our belts, so I thank you guys for being here every single week, but we love you and we are excited to keep this thing going.
Josh Robb:
Yep, and that follows along … And I know you have it, too, is family. And so, we think of you guys as family. I mean, this has been something that a year ago when we just started talking it … We’re so thankful and we love you guys so much for listening, tuning in, and sharing with other people these podcasts.
Austin Wilson:
So yeah, it’s Valentine’s time. We’re thinking about love. There’s a lot of things that we love. But like Josh said, we love you guys listening. This is just a reminder that on our website, check out a free gift to you. It’s a brief list of eight principles of timeless investing, their overarching investment themes meant to keep you on track, to meet your long-term goals. Hey, you might like it. You might love it. Check it out. It’s free on our website. Josh, how can people help us grow this podcast?
Josh Robb:
If you love this podcast and subscribe, you’ll get a free alert every time we drop an episode, which is Thursdays. And then review us on Apple Podcasts, if you have any suggestions, or topics, or would just want to tell us what you love, send us an email hello@theinvesteddads.com. And again, share this with your close friends and family, all you loved ones.
Austin Wilson:
All right, until next Thursday, have a good week.
Josh Robb:
Talk to you later.
Austin Wilson:
Bye.
Outro:
Thank you for listening to the Invested Dads Podcast. This episode has ended, but your journey towards a better financial future doesn’t have to. Head over to the investeddads.com to access all the links and resources mentioned in today’s show. If you enjoyed this episode and we had a positive impact on your life, leave us a review, click subscribe, and don’t miss the next episode.
Josh Robb and Austin Wilson work for Hixon Zuercher Capital Management. All opinions expressed by Josh, Austin, or any podcast guest are solely their own opinions and do not reflect the opinions of Hixon Zuercher Capital Management. This podcast is for informational purposes only and should not be relied upon for investment decisions. Clients of Hixon Zuercher Capital Management may maintain positions in the securities discussed in this podcast. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses, which would reduce returns. Securities investing involves risk, including the potential for loss of principle. There is no assurance that any investment plan or strategy will be successful.
